EANS-News: BAUER Aktiengesellschaft Professor Thomas Bauer reaffirms forecast
at BAUER AG Annual General Meeting
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Annual & Special Corporate Meetings/Company Information
Subtitle: Dividend of EUR 0.60 per share
Professor Thomas Bauer underlines growth trend
Dr. Karlheinz Bauer resigns Supervisory Board mandate
Schrobenhausen (euro adhoc) - Some 600 shareholders, shareholders'
representatives and guests today attended the fifth Ordinary Annual General
Meeting of the SDAX-listed construction and machinery manufacturing concern
BAUER Aktiengesellschaft at the company's headquarters in Schrobenhausen.
In his speech, Chairman of the Management Board Professor Thomas Bauer set
forth the prospects for the Group's three segments - Construction, Equipment
and Resources - based on numerous examples of projects all over the world. He
also reaffirmed his previous forecast: "We are well on track to achieve our
targets for this financial year." The Group expects total consolidated revenues
of EUR 1.4 billion in full-year 2011, with after-tax profit above EUR 45
million. Professor Bauer also expressed his pleasure on the recent sale of the
first TBA 300 deep drilling rig to a Venezuelan drilling contractor. The rig,
designed for oil, gas and water exploration and for the extraction of deep
geothermal energy, is opening up a new field of business for the Group.
The shareholders voted by a large majority to approve the resolutions put
forward by the management and confirmed the mandates of the shareholders'
representatives on the Supervisory Board for the next five years.
Dr.-Ing. Johannes Bauer, a construction engineer and Managing Director of BAUER
Designware GmbH, was elected as a new member of the Supervisory Board. He
succeeds his father, Dr. Karlheinz Bauer, who has resigned his mandate for
reasons of age. The 83-year-old pioneer in the field of specialist foundation
engineering represented the sixth generation of his family to run the business,
having been Managing Director from 1954 to 1986 and in the 1970s having laid
the foundations for the Equipment segment, which is today a world market leader
in specialist foundation engineering machinery.
The Annual General Meeting approved the payment of a dividend of EUR 0.60 per
share. That represents a distribution of some EUR 10.3 million to the company's
shareholders.
Following the Annual General Meeting, many shareholders took the opportunity to
tour the machinery plant at Aresing, some six kilometres away.
The results of the vote and the presentation by the Chairman of the Management
Board can be found in the Investor Relations section of the company's website
at www.bauer.de.
About Bauer
Bauer is a provider of services, machinery and ancillary products in the earth-
working and groundwater fields. The Group markets its products and services all
over the world. Its global spread allows it to remain largely unaffected by
fluctuating business cycles.
The operations of the Group are divided into three segments: Construction,
Equipment and Resources. The Construction segment carries out specialist
foundation engineering work all over the world, developing foundation and
excavation projects as well as providing related construction services. In its
Equipment segment, in which it is the world market leader, Bauer offers an
extensive range of machinery, equipment and tools for specialist foundation
engineering and related fields. The Resources segment encompasses the Group's
operations in the exploitation of raw materials, in environmental technology,
in geothermal drilling operations and also in equipment for wells (including
pumps and drills, screens and casings).
Bauer profits greatly from the collaboration between its three separate
segments, enabling the Group to position itself as an innovative, highly
specialized provider of complete solutions and services for demanding projects
on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total
revenues outside of Germany. Employing some 9,100 people, the Group's total
revenues in 2010 were EUR 1.30 billion (previous year: EUR 1.28 billion). BAUER
Aktiengesellschaft has been listed on the official market of the Frankfurt
Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
Further inquiry note:
Bettina Erhart / Christopher Wolf
Investor Relations
Telefon: +49(0)8252 97 1918
E-Mail: investor.relations@bauer.de
end of announcement euro adhoc
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company: BAUER Aktiengesellschaft
BAUER-Straße 1
D-86529 Schrobenhausen
phone: +49 (0)8252-97-1918
FAX: +49 (0)8252-97-2900
mail: investor.relations@bauer.de
WWW: http://www.bauer.de
sector: Construction & Property
ISIN: DE0005168108
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English
Total Group revenues up 17.8 percent to EUR 307.5 million After-tax loss of EUR 2.6 million better than previous year comparative (EUR 4.4 million loss) Orders received up 24.1 percent to EUR 363.9 million (previous year: EUR 293.2 million) Orders in hand in Resources segment boosted to high level of ...
Total Group revenues up 2.2 percent to EUR 1,304 million Profit after tax of EUR 39.8 million (previous year: EUR 42.0 million) to plan Orders received up 26.7 percent to EUR 1,410.0 million (previous year: EUR 1,113.1 million) Forecast for 2011: Total Group revenues up to EUR 1.4 billion and profit ...